CNBC Utilities Page Latest Business News Wires - Business Headlines

More

  • Dec 9- U.S. officials on Wednesday sued J.C. Penney Co Inc, accusing the retailer of deceiving consumers by advertising textile fiber products as containing bamboo and bamboo fiber, when they actually contain rayon. According to a complaint filed by the Department of Justice and Federal Trade Commission, J.C. Penney in "numerous instances" deceptively...

  • NEW YORK, Dec 9- DuPont bonds widened while Dow notes steadied Wednesday following reports that the companies are in talks to merge and then break up into different entities. DuPont bonds were quoted 10 bp-20bp wider while Dow Chemical paper was broadly unchanged, according to a buyside trader who attributed Dow's relative outperformance to short-covering.

  • CAPUTO EXPRESSED INTENTION OF NEW ADMINSTRATION TO COMMENCE SETTLEMENT TALKS' PROMPTLY'- POLLACK.

  • MEDIATOR DANIEL POLLACK SAYS MET THIS WEEK WITH INCOMING SECRETARY LUIS CAPUTO AT HIS REQUEST.

  • MEDIATOR IN ARGENTINE BOND LITIGATION CONFIRMS MEETING WITH INCOMING ARGENTINE SECRETARY OF FINANCE.

  • LONDON, Dec 9- Copper rose on Wednesday after higher Chinese imports and hopes for significant output cuts prompted some investors to reverse their bets on lower prices. "China imports and the possibility of output cuts have given the shorts something to think about," Macquarie analyst Vivienne Lloyd said. Benchmark copper on the London Metal Exchange had...

  • WASHINGTON, Dec 9- U.S. wholesale inventories fell in October as businesses stepped up efforts to reduce the stockpile of unsold merchandise, suggesting inventories would again be a drag on growth in the fourth quarter. The Commerce Department said on Wednesday wholesale inventories slipped 0.1 percent as stocks of both durable and nondurable goods fell.

  • *Dow Chemical, DuPont jump on merger talks. *Yahoo up after shelving Alibaba spinoff plans. Dow Chemical was up 11.4 percent at $56.70 while DuPont jumped 10 percent to $73.26, after reports that the companies are in talks to merge.

  • HELSINKI, Dec 9- Rovio Entertainment Ltd, the maker of hit mobile phone game Angry Birds, has its eye on an eventual merger or acquisition following its restructuring this year, Kaj Hed, the Finnish firm's chairman and biggest shareholder said on Wednesday. "There is a clear need for some consolidation to take place here, and that is something I'm interested in," Kaj...

  • PARIS, Dec 9- After 11 days of face-to-face negotiations in Paris, a slimmer but still-troubled draft of a global climate agreement was released on Wednesday, revealing countries remain divided over several core issues. French Foreign Minister Laurent Fabius, who is chairing the talks, unveiled the latest draft that followed three days and nights of backroom...

  • Dec 9- Wall Street opened lower for the third straight day on Wednesday.

  • Dec 9- U.S. officials on Wednesday filed a lawsuit accusing J.C. Penney Co Inc of misleading consumers by deceptively advertising textile fiber products as containing bamboo and bamboo fiber, when they actually contain rayon. The lawsuit was filed in the federal court in Washington, D.C., according to court records. It seeks civil penalties and a halt to further...

  • BRUSSELS, Dec 9- European leaders will back next week a gradual introduction of a European plan to guarantee all euro zone bank deposits of up to 100,000 euros, signaling a toning down of resistance from Germany, which has been opposing the scheme, a draft document said. At the last EU summit in October, any reference to the European deposit guarantee plan was...

  • MOSCOW, Dec 9- Russia produced 243.9 tonnes of gold in the first 10 months of 2015, down from 246.1 tonnes in the same period a year ago, the Finance Ministry said in a statement on Wednesday. Production for the period included 196.9 tonnes of mined output, compared with 199.1 tonnes a year ago. Silver production totalled 981.9 tonnes for the period, up from 857.2...

  • MOSCOW, Dec 9- Russian President Vladimir Putin has ordered his government to take Ukraine to court if Kiev fails to repay a $3 billion Eurobond to Moscow. "Take them to court then," Putin told a government meeting on Wednesday. Finance Minister Anton Siluanov said earlier on Wednesday that Ukraine had 10 days after the Moscow- held Eurobond falls due on Dec. 20 to...

  • Dec 9- U.S. auto parts retailer Pep Boys- Manny, Moe& Jack said it planned to terminate its deal with Bridgestone Corp after its board determined that Carl Icahn's offer was a "superior proposal." Pep Boys said Bridgestone has three days from Dec.8, when the notice was delivered to the Japanese tiremaker, to make a new offer. Carl Icahn offered $15.50 per share for Pep...

  • *China's November CPI up 1.5 pct vs 1.3 pct in October. *Yahoo up after shelving Alibaba spinoff plans. Dec 9- Wall Street looked set to open little changed on Wednesday after China's consumer inflation rose slightly but remained under the government's 3 percent target for the year and oil prices stabilized after two days of bruising sell-off.

  • Dec 9- American Airlines Group Inc on Wednesday said it will add a new type of economy-class seating to international flights starting in late 2016, aimed at travelers willing to pay for amenities such as wider seats without the full cost of flying business class. The move also helps bring American's premium economy service in line with partners British...

  • *Adidas to shift sourcing from China to other markets. BERLIN, Dec 9- Adidas expects a big jump in the cost of sourcing products over the next five years due to rising labour and material costs, but should be able to compensate by lifting prices, cutting its range and shifting production from China. McNamara said Adidas would cut the amount of clothes and shoes it...

  • Dec 9- Diversified U.S. miner and oil producer Freeport-McMoRan Inc said it had suspended its annual dividend of 20 cents per share to save cash amid a slump in commodity prices. Freeport, under pressure from activist investor Carl Icahn, further reduced its capital spending plans for 2016 and 2017 on Wednesday. They closed at $6.74 on the New York Stock Exchange...